Bio-Rad Laboratories (NYSE:BIO.B) shares underwent a turbulent ride in the market, having multiple shifts in share price. The company reported a loss in its second quarter 2024 earnings with US$76.26 loss per share against US$39.59 loss in 2Q 2023. Despite the disappointing performance, its Q2 earnings somehow managed to surpass the estimates. Major financial institutions such as Swedbank AB and Tidal Investments LLC increased their positions whereas some like Public Employees Retirement Association of Colorado and PEAK6 Investments LLC reduced their stakes. Following updated 2024 outlook, the stock plummeted 20%, leading to an overall three-year loss of 53% for shareholders. Despite the loss, Citigroup and other institutions still raised the price target to $350. However, owing to soft spending constraints in the Biotech sector, Bio-Rad adjusted their 2024 outlook. Recently, a significant increase was noticed in short interests of the company, and the share price suffered a major blow, causing investors to lose 54% over the last three years. Despite the challenging scenario, Vanguard Group Inc. and State Board of Administration of Florida Retirement System bought Bio-Rad Laboratories' shares while Swiss National Bank sold theirs. The latest Q1 2024 earnings call reports EPS at US$13.46, compared to US$2.33 in 1Q 2023.
Bio-Rad Laboratories Stocks News Analytics from Wed, 27 Jun 2018 01:17:35 GMT to Sun, 04 Aug 2024 17:54:47 GMT -
Rating -4
- Innovation -2
- Information 5
- Rumor -6
